Despite a nearly 7% price contraction, sugar prices are expected to remain stable or even experience a slight increase due to an anticipated decrease in production for the upcoming season, according to the International Sugar Organization (ISO).
The current price per kilogram stands at $0.79, as reported by Global Product Prices.
In Europe, there has been a shift in the dynamics. Due to the Russo-Ukrainian conflict, Europe has decided to suspend import quotas and tariffs for sugar from Ukraine.
European sugar producers have witnessed a surge in Ukrainian sugar sales, with Europe purchasing 400,000 tonnes over a year, propelling Ukraine to the second position among Europe's largest sugar exporters.
Source: La France Agricole, Le Betteravier
